(a) The right of a person to an annuity, the annuity itself, the return of accumulated contributions, any other right accrued or accruing under § 24-8-201 et seq. or § 24-8-701 et seq., and all moneys belonging to a plan shall not be subject to execution, garnishment, attachment, the operation of bankruptcy or insolvency laws, or any other process of law and shall be unassignable except as specifically provided in this chapter.
(b) An exception to the prohibition against the subjection of annuity rights to process of law applies to the following:(1) An employer or entity charged with appropriating funds for court expenses shall have the right of setoff for a claim arising from embezzlement or fraud committed by a member, retiree, or beneficiary; and(2) A court of competent jurisdiction of this state may order the monthly benefit of a retiree to be paid into the registry of the court for disposition as the court deems just and proper if the retiree is found by the court to be willfully refusing or failing to support his or her minor dependent children in violation of a court order providing for that support.
(1) An employer or entity charged with appropriating funds for court expenses shall have the right of setoff for a claim arising from embezzlement or fraud committed by a member, retiree, or beneficiary; and
(2) A court of competent jurisdiction of this state may order the monthly benefit of a retiree to be paid into the registry of the court for disposition as the court deems just and proper if the retiree is found by the court to be willfully refusing or failing to support his or her minor dependent children in violation of a court order providing for that support.